Here's Why Albemarle Stock Rose 5% To Lead the S&P 500 on Monday

Key Takeaways Albemarle shares soared after the U.S. government approved a new lithium mining project in Nevada. The approval marked a step forward for U.S. ambitions to boost domestic lithium production and reduce reliance on China for the key EV battery component. The U.S. Treasury Department also announced that it would broaden the scope of certain tax credits that previously excluded mining activities. Shares of Albemarle (ALB), the world's largest lithium producer, surged 5% on Monday, earning the top ...